Nutanix (NASDAQ:NTNX) Upgraded by KeyCorp to “Strong-Buy” Rating

Nutanix (NASDAQ:NTNX) was upgraded by research analysts at KeyCorp to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on NTNX. Barclays set a $94.00 price objective on shares of Nutanix and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Wells Fargo & Company upped their target price on shares of Nutanix from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Wall Street Zen upgraded shares of Nutanix from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Oppenheimer upped their target price on shares of Nutanix from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Finally, Raymond James Financial downgraded shares of Nutanix from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Nutanix has an average rating of “Buy” and a consensus target price of $90.38.

Nutanix Stock Down 1.1%

NTNX opened at $73.42 on Wednesday. Nutanix has a 52-week low of $43.35 and a 52-week high of $83.36. The company has a 50 day moving average of $73.92 and a two-hundred day moving average of $69.52. The company has a market cap of $19.68 billion, a P/E ratio of -262.21, a P/E/G ratio of 6.75 and a beta of 0.69.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company had revenue of $638.98 million during the quarter, compared to the consensus estimate of $626.12 million. During the same period in the previous year, the firm earned $0.28 earnings per share. Nutanix’s revenue for the quarter was up 21.8% on a year-over-year basis. Research analysts anticipate that Nutanix will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Nutanix

In other Nutanix news, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the sale, the director now directly owns 5,480,468 shares of the company’s stock, valued at approximately $420,954,747.08. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rajiv Ramaswami sold 61,057 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.00, for a total transaction of $4,823,503.00. Following the sale, the chief executive officer now directly owns 497,309 shares in the company, valued at $39,287,411. This trade represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,550,624 shares of company stock worth $426,476,906 in the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Trading of Nutanix

Institutional investors and hedge funds have recently modified their holdings of the business. Harbour Investments Inc. raised its holdings in shares of Nutanix by 2,612.5% during the fourth quarter. Harbour Investments Inc. now owns 434 shares of the technology company’s stock worth $27,000 after purchasing an additional 418 shares during the period. Colonial Trust Co SC acquired a new stake in shares of Nutanix in the 4th quarter worth about $28,000. Twin Tree Management LP acquired a new stake in shares of Nutanix in the 1st quarter worth about $29,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Nutanix by 78.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 436 shares of the technology company’s stock worth $30,000 after acquiring an additional 191 shares during the period. Finally, GW&K Investment Management LLC acquired a new stake in shares of Nutanix in the 1st quarter worth about $30,000. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Company Profile

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.